A baby's first wails upon birth could grant him $500 ... just for being born.

Under a California bill introduced to Senate on Wednesday, every child born in the state would receive a $500 savings account to start building a nest egg for college or a down payment for a home.

If passed, the proposal would guarantee money to every child born in the state after Jan. 1 2008, regardless of their parents income or immigration status. The overall cost of the program is $285 million a year for taxpayers, and the child would repay the money when he or she turns 18. READ MORE

Do you think that this program could help the next generation jumpstart their finances? Write to us at speakout@foxnews.com and tell us what you think!

Here's What FOX Fans Are Saying:

"This sounds like another liberal agenda to promote their socialist ideas. First is government controlled healthcare, and now every baby gets 500 bucks ... who is going to pay for this? You, me, and everybody else!" — Michael

"This idea is great … some parents never build a nest egg or savings. This will at least give them the choice to build a savings and allow them to pursue it later in life if they want. Its kind like 401k program, they will not give you free money, but they will help you out as much as possible. It's not like California is losing money on this they have to repay this back either way." — Rudy

"This is crazy! The government has more pressing issues at hand. When parents decide to have children, they are responsible for that child — not the government." — Angie

"I am so incredibly frustrated by these politicians spending everyone else's money! I cannot understand how they actually believe that this is a program worth $285M of taxpayers' money a year — and that it is justifiable! We have become a country where the minority (hardworking, taxpaying) are supporting the majority (non-working, money-grubbing, non-taxpaying miscreants." — Aimee

"More government can't help anyone or anything, unless you are looking for socialism!" — Walter

"This bill should not pass especially if it also includes immigrants or non-citizens. " — Bev

"What is to keep the parents from moving to CA just to have the baby and then moving somewhere else or back where they came from? I can see an influx of people moving to California for that reason." — Judy

"Just what we need, more sense of entitlement from the youth. And where, I ask, is this money supposed to come from? How about adding the rule that childless couples don't have to pay into that system out of their taxes." — Ron

"It is a flagrant spending of the tax payer's dollars. Whom ever sponsored it should be prevented from participating in the California State Legislature. California has already established a record of mellow politics. This includes the governor." — Doug

"No, because more than 60 percent of the kids now don't go to college. This would create a massive burden on this state. To eliminate people who come to this state at the last minute, there should be a provision that the person can prove that they have been a resident of the state for the past six months and have paid taxes." — Larry

"This may sound ludicrous until you think about it for awhile. Several years ago my son, a physician, made the suggestion that at birth the government should open an account for them and deposit $1,000,000. From that point on the government washes its hands of any future obligations. No welfare, no social security, no college assistance, no disability, no Medicare, etc. Expensive at first, but eventually it would save the government billions of dollars." — Noel

"This would go along with the No Child Left Behind Act. I think it would be great idea if the government could guarantee that parents and/or relatives could not manipulate this system into his/her personal gain. Lets not forget there really are some incompetent parents out there." — Jaime

"Some of us work very hard for our money. I work two weeks to earn over $500 after taxes and these children are going to receive it just because they were born?!?" — S.B. (Biloxi, MI)

"This is a good intention turned into a bad idea . The idea of giving every child $500 is a noble and lofty goal, but who is going to monitor this 285 million a year bureaucracy? We need to stop having the government try to fix our problems and let people solve them on their own." — Peter

"If everyone gets a head start, haven't we just moved the starting line forward?" — Tom

"I think the money would yield better long-term benefits if they invested it in teaching parents and children how to manage their money. I am outraged that the government would take the citizen's tax money and throw it around so carelessly." — Laura (Minnesota)

"I just had a child and would not want or expect this from anyone. Maybe we should just guarantee them a $200,000.00 a year job, national healthcare, a six figure a year retirement pension, and not require any education.." — Jason

"It should only be open to legal U.S. citizens. What happens to the money should the child not live to 18 or 22? How are you going to keep track and force the repayment of the 500.00? Sounds like a good idea, but needs some work." — Peggy

"I am sick to death of all these programs that help ILLEGAL immigrants. We are the laughing stock of the world with all these ridiculous programs to help people who have no business being here when they arrive illegally." — Catt

"If illegal aliens don't pay taxes, where is this money coming from. Maybe the money can pay for their carbon foot print." — Heather

"I think it's a nice idea, poorly executed. Tidy it up by making it for children of citizens of the United States, and you are on the right track. No sense in supplying benefits to those who are here illegally, no more than I think they should be allowed social services." — Rob

"People are not saving because governments are TAXING us out of the savings account business. Too much is taken from us and this is just another 'grab' from our diminishing after tax disposable income." — Doug

"I think it is a good idea, but should only be provided to children whose parents are legal U.S. citizens." — Christine

"Happy 18th birthday kid ! Here's a bill now due for $500. Going to vote for me?" — M.B. (Cook County, IL)

"Another free hand-out. How about: go to school, work hard, get a job, and pay for your own savings account?" — Jerry (Monrow, CT)

"Isn't this all about personal responsibility? If you don't have enough money to raise children then don't have children. Don't take money I've earned and paid out in taxes to help you raise children you can't afford." — Ron (Torrance, CA)

"This smacks of socialism at it's finest. Why doesn't the government tax us all a WHOLE lot less all along the way, so we CAN save more?" — Ginger